Credit Suisse AG Has $22.61 Million Position in Vulcan Materials (NYSE:VMC)

Posted by Defense World Staff on Jun 8th, 2023

Credit Suisse AG raised its position in Vulcan Materials (NYSE:VMC – Get Rating) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,115 shares of the construction company’s stock after acquiring an additional 3,031 shares during the quarter. Credit Suisse AG owned approximately 0.10% of Vulcan Materials worth $22,609,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VMC. Artemis Investment Management LLP acquired a new position in Vulcan Materials in the 4th quarter valued at about $62,023,000. Palestra Capital Management LLC grew its stake in Vulcan Materials by 46.8% in the 3rd quarter. Palestra Capital Management LLC now owns 907,462 shares of the construction company’s stock valued at $143,116,000 after buying an additional 289,462 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Vulcan Materials by 5.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,096,865 shares of the construction company’s stock valued at $717,401,000 after buying an additional 211,244 shares during the last quarter. Vanguard Group Inc. increased its position in Vulcan Materials by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 14,535,907 shares of the construction company’s stock worth $2,670,246,000 after buying an additional 184,543 shares during the period. Finally, Nicholas Company Inc. increased its position in Vulcan Materials by 156.1% during the 4th quarter. Nicholas Company Inc. now owns 255,505 shares of the construction company’s stock worth $44,741,000 after buying an additional 155,720 shares during the period. Institutional investors and hedge funds own 90.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VMC. The Goldman Sachs Group raised shares of Vulcan Materials from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $188.00 to $212.00 in a research report on Monday, April 3rd. DA Davidson raised their target price on Vulcan Materials from $212.00 to $225.00 in a report on Wednesday, May 10th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Vulcan Materials in a report on Friday, February 10th. StockNews.com assumed coverage on shares of Vulcan Materials in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, 92 Resources reaffirmed a “maintains” rating on shares of Vulcan Materials in a report on Friday, May 5th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.08.

Vulcan Materials Trading Up 0.9 %

NYSE:VMC opened at $204.99 on Thursday. Vulcan Materials has a 52 week low of $137.54 and a 52 week high of $206.67. The firm has a 50-day moving average price of $183.66 and a two-hundred day moving average price of $180.26. The firm has a market cap of $27.28 billion, a price-to-earnings ratio of 45.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.59 and a current ratio of 2.37.

Vulcan Materials (NYSE:VMC – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The construction company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.64 by $0.31. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.57 billion. Vulcan Materials had a net margin of 8.14% and a return on equity of 10.36%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. On average, equities analysts expect that Vulcan Materials will post 6.45 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 26th will be given a $0.43 dividend. The ex-dividend date is Thursday, May 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.84%. Vulcan Materials’s dividend payout ratio (DPR) is currently 38.05%.

Insiders Place Their Bets

In other news, VP Randy L. Pigg sold 560 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $202.44, for a total transaction of $113,366.40. Following the completion of the transaction, the vice president now directly owns 1,707 shares in the company, valued at approximately $345,565.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP David P. Clement sold 2,389 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $196.00, for a total value of $468,244.00. Following the transaction, the senior vice president now directly owns 2,887 shares in the company, valued at $565,852. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Randy L. Pigg sold 560 shares of Vulcan Materials stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $202.44, for a total transaction of $113,366.40. Following the sale, the vice president now owns 1,707 shares of the company’s stock, valued at $345,565.08. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

About Vulcan Materials

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Vulcan Materials Co engages in the production of construction aggregates. Its products include crushed stone, sand, and gravel. It operates through the following business segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment produces and sells asphalt mix and ready-mixed concrete primarily in its mid-Atlantic, Georgia, Southwestern, Tennessee, and Western markets.